Renaissance Technologies LLC Invests $1.55 Million in Astec Industries, Inc. (NASDAQ:ASTE)

Renaissance Technologies LLC acquired a new position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 46,192 shares of the industrial products company's stock, valued at approximately $1,552,000. Renaissance Technologies LLC owned 0.20% of Astec Industries at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ASTE. Invesco Ltd. increased its stake in Astec Industries by 0.3% in the 4th quarter. Invesco Ltd. now owns 381,598 shares of the industrial products company's stock worth $12,822,000 after purchasing an additional 1,243 shares during the period. Envestnet Asset Management Inc. bought a new stake in Astec Industries during the 4th quarter valued at $260,000. Wells Fargo & Company MN raised its holdings in Astec Industries by 24.3% during the 4th quarter. Wells Fargo & Company MN now owns 13,389 shares of the industrial products company's stock valued at $450,000 after buying an additional 2,616 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in Astec Industries during the 4th quarter valued at $882,000. Finally, Trexquant Investment LP increased its position in shares of Astec Industries by 198.8% in the fourth quarter. Trexquant Investment LP now owns 20,175 shares of the industrial products company's stock valued at $678,000 after acquiring an additional 13,424 shares during the period. Hedge funds and other institutional investors own 93.16% of the company's stock.

Astec Industries Trading Up 1.4 %

NASDAQ ASTE traded up $0.52 during trading on Friday, hitting $37.90. The company had a trading volume of 21,843 shares, compared to its average volume of 158,080. The company's fifty day moving average is $34.79 and its 200-day moving average is $34.61. Astec Industries, Inc. has a one year low of $28.46 and a one year high of $42.70. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a market cap of $864.27 million, a price-to-earnings ratio of -473.89 and a beta of 1.39.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.42. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The company had revenue of $329.40 million for the quarter, compared to analysts' expectations of $320.40 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. Astec Industries's quarterly revenue was up 6.5% on a year-over-year basis.

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, May 13th. Astec Industries's payout ratio is presently 78.79%.

Analysts Set New Price Targets

ASTE has been the subject of a number of analyst reports. StockNews.com upgraded shares of Astec Industries from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Robert W. Baird lifted their price objective on Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.